A recent assessment carried out by Geoscience Australia has provided new insights into the geological evolution and petroleum prospectivity of the Capel and Faust basins. These remote deepwater basins, located about 800 kilometres off the east coast of Australia in water depths of 1300 to 2500 metres, have previously seen little scientific or petroleum exploration effort. This assessment was carried out under the Australian Government's Offshore Energy Security Program as part of Geoscience Australia's continuing efforts to identify a new offshore petroleum province and deliver pre-competitive geoscience information (AusGeo News 84). Read More